On January 1, Vermont Corporation had 40,500 shares of $9 par common stock issued and outstanding. All 40,500 shares had been issued in a prior period at $20 per share. On February 1 , vermont purchased 970 shares of treasury stock for $28 per share and later sold the treasury shares for $21 per share on March 1. The entry to journalize the purchase of the treasury shares on February 1 would indude a a. erodit to a gain account for 37,760 . b. credit to Treasury 5 tock for $27,160. c. debat te a loss account for 52760 . 1d. debit to Trearury Stock for $27.160